VOL. 128 | NO. 120 | Thursday, June 20, 2013
FedEx Corp. on Wednesday, June 19, reported fourth-quarter profit dropped 45 percent amid tepid economic growth and customers that chose less expensive and slower international shipping services.
Medtronic Spine employees put being good corporate citizens to practice
For the fifth straight year, Memphis-based Medtronic Spine employees are spending the month of June volunteering at more than a dozen locations in the area.
If the Memphis and Shelby County Port Commission can win a sizeable grant from the federal government, work to build railroad capacity on Presidents Island – which would eventually allow for the future development of up to 1,500 acres there – could begin in August.
The numbers at play so far in the Memphis City Council’s long budget season are big.
Charleson Bell thought he and his associates had a solid business model for the startup they launched last year called BioNanovations, which is developing devices that use bionanotechnology for quickly diagnosing bacterial infections.
With voters in all six of Shelby County’s suburban towns and cities to vote next month on forming their own public school districts, candidates in two of the towns are preparing for elections in the fall.
The average number of days a home in the Memphis area stayed on the market for the month of May dipped to a seven-year low for that month, providing more evidence of a housing market in recovery.
MEMPHIS LAW TALK
Jay Ebelhar was recently elected shareholder of Baker, Donelson, Bearman, Caldwell & Berkowitz PC.
LOCAL COLUMNISTS
Ray’s Take Finally and thankfully, the housing market seems to be making a bit of a comeback. Those years of drought actually created a pretty significant pent-up demand. However, homebuyers still expect more for their money. Exactly what that means varies: some want the biggest house possible and are willing to upgrade. Others want a move-in-ready home. The truth is even people willing to upgrade are more easily sold on a house that already looks great.
Cleaning off a shelf, I came across the 2005 issue of “Uncle John’s Fast-Acting, Long-Lasting Bathroom Reader.” This series, by the way, has been around for a quarter-century now, and I’m long overdue to order the 2012 issue: the “Fully Loaded 25th Anniversary Bathroom Reader.”
STATEWIDE
KNOXVILLE, Tenn. (AP) — The Nuclear Regulatory Commission is proposing a $70,000 fine against the Tennessee Valley Authority for violations related to one of its East Tennessee nuclear plants.
NATIONAL BUSINESS
DALLAS (AP) — A government analyst says the merger of American Airlines and US Airways would reduce competition on more than 1,600 routes traveled by more than 53 million passengers.
NATIONAL GOVERNMENT
WASHINGTON (AP) — Prospects for House passage of a new farm bill could turn on the level of food stamp cuts as key backers scrambled Wednesday to secure support for the five-year, half-trillion dollar measure.
WASHINGTON (AP) — Chairman Ben Bernanke ended weeks of speculation Wednesday by saying the Federal Reserve will likely slow its bond-buying program later this year and end it next year if the economy continues to improve.
WASHINGTON (AP) — The Federal Reserve sketched a slightly brighter picture of the U.S. economy this year and next, a sign it is moving closer to slowing its bond-buying program.
HEALTH CARE
TRENTON, N.J. (AP) — If doctors and patients used prescription drugs more wisely, they could save the U.S. health care system at least $213 billion a year, by reducing medication overuse, underuse and other flaws in care that cause complications and longer, more-expensive treatments, researchers conclude.